Activity Stream

Devil's advocate - it was your rep coming on this site bringing this situation up, not the broker. Prior to your rep coming on here did you, as the Fusion CEO, make contact directly with broker to discuss? Did you authorize your rep to come on this site and posting this? Broker acknowledges the issue and took action to terminate said employee. Did you ask for proof? Frankly it is irrelevant either way if the funding ends up performing. What I see here is a dispute that could have been handled professionally before posting on a public forum. It wasn't. Not by the broker and not by you or your team. You, as CEO and leader, could have picked up the phone at any point and told the broker "hey we don't like how this went down, we will pay the commission out when principal is recovered but we need to end the relationship once that happens". You don't get to lecture about leadership and being a CEO when you and your team failed to handle this like professionals either. My $.02 from the outside.

You learned of the double funding immediately - Did you recall the wire? or do an immediate ACH withdrawal of the funds you deposited? You have the business owners banking information or communicate the the biz owner you don't stack and you have to recall the deposit?

Appreciate the support here - you said what a lot of people are thinking but don’t say out loud. This whole situation is exactly the kind of thing that gives brokers a bad name. You can’t push a deal through, hide critical information, and then play the victim when you get caught. What actually happened is simple. The merchant was double-funded same day, two deals and that information was never disclosed to us. On top of that, on the recorded funding call, the merchant was clearly coached not to mention the second funding. That’s not a misunderstanding or a misstep. That’s intentional. And when it got exposed, instead of owning it, the broker blamed a “rogue employee” and started throwing threats around threatening to shut us down, slander our name, and demand money he’s not owed. If you’re the CEO of a company and preaching about leadership and success, you don’t get to turn around and say “I didn’t know what my team was doing.” Either you’re in control or you’re not. You can’t have it both ways. Also, trying to flex podcast rankings, follower counts, and your “contact list” as if that’s supposed to intimidate anyone? That’s not influence, that’s insecurity. No real leader needs to beg for credibility. The more someone screams about how powerful they are, the more obvious it is they’re not. At the end of the day, this isn’t complicated. The deal was mishandled. It put our capital at risk. The trust was broken. So we shut the door. The ISO relationship is done and it’s not coming back. And since people keep asking yeah, he’ll get his commission if the deal pays off in full. Not before. That’s our policy and we’re standing by it. No one here is losing sleep over this but we’re not letting it slide either. Arthur Jacobs CEO Fusion Funding

Micah, you are entirely correct and this is precisely how I view it as well. Versa, have you ever heard of the term "You can't have your cake and eat it too"?. As a 'CEO' with an ostensibly omnipotent following, control, and purported reputation & capability, you simply don't get to come on here whimpering in victimhood externalizing the blame onto your agent as a means to justify why you're right. For what the leaders are, that as a rule will the men below them be. This isn't your agents mistake, it's yours. It only took a few comments from you in this thread for me to see the type of leader you are, the type of man you are. "Top 100 apple podcast, 100,000 followers, my contact list of 10k brokers and 300 funders, press release, nbc, youtube". So not only is your designated course of action as a leader to weasel your way out of responsibility, but it's also to tell everyone how incredibly successful and influential you are, you can't help but boast and brag. And you're so drunk off your own Kool-Aid that you fail to realize how paradoxically diminishing the way you speak is in relation to your credibility. A leader with an incessant need to display their authority is the representation of a leader who holds no authority and a person filled with so much blind exceptionalism to the point that they can't help but broadcast and hyperbolize their achievements all the time is more often than not someone who lies excessively because they lie to themselves to the point that they believe their own lies and truly believe they're God's gift to humanity. Those people are void of common sense, as are you because if you had it, you'd maybe measure your words a bit more and suppress your impetus to throw out blatant fallacies about yourself regarding things that can be easily validated, such as your 'Top 100 Apple Podcast' accolade. That's one lie, people like you exude lies uncontrollably, so what else is a lie? Lack of knowledge of the stack? I'd believe you if you weren't so priapic of self. It's poor strategy to come on here lying about yourself when the entire premise of your argument derives upon proof of unawareness of the stack. But then again you advocate of your 'CEO' and leadership prowess, and if that's the case, your premise is skewed from the start because it's still your responsibility. If your son cursed at his teacher in school, is it his fault? Or is the fault upon the person who raised the child? I hope you learn from this because hyperbolizing your achievements won't get you any closer to actually achieving them, and it'll make you look like a fool along the way, the very way you've done here. I have zero sympathy for you because of your extreme lack of humility. "A fool contributes nothing worth hearing and takes offense at everything" - Aristotle

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This thread went off the rails. First off original poster went MIA and everyone else took over. I've been double funded more times than I can count and I've never not paid the iso because of it. At the very least the commission should get held is until principle, not taken away completely. Just my .02. Lastly, I have worked with Versa close to 10 years. They have done good business with me. I can't speak on this situation since it has nothing to do with me.

I'm on your side that you didn't know about it, the question is have you figured out to explain to the forum and to 100, 000 people why that absolves you from responsibility if this guy was working for you? I don't know the whole story, I'm not judging, however right now the only thing you're claiming is that you didn't know about it and you find the employee. That's generally not enough, because the contract is between your company and the funder. Did the rogue employee fund the other position under your company or a different company? Are you expecting to get paid on both? Again, I'm just trying to be objective. I believe everybody, the question just is who has to shoulder the responsibility.

right! sharkweek sounds like a 13 year old child with serious issues. Its just making them look even worse

yes the lie is that i knew about it because i didnt and as you can see by all these people telling you I am not that kind of dude. Google and chat gpt will tell you the same thing. I do good business period and I will out anyone who doesnt. If you want the proof send your email or number ill gladly send it i keep getting an error when trying to upload it on here but hopefully these guys do whats right like alternative did and pay the commission otherwise you will see it on the blog and posts to come all weekend long

it is not letting me share the picture proving it was done without my knowledge but i am happy to send it to anyone. If they dont pay me you will see it anyway on the press release. Fact is every broker needs to know if their deal gets stacked no matter the circumstances that these guys do not pay so its not worth risking it by submitting deals to these guys because sometimes things happen outside of your control. Hopefully these guys are smart enough to pay whats owed so i don't need to share this experience with the world on my podcast, blogs, news articles, my contact list of 10k brokers and 300 lenders and hundreds of thousands of followers.

I hope you get the therapy and mental help you clearly need

Buddy, we get stacked all the time. when we learn about a stack, we let the iso partner know the deal is on probation until principle. After that, it's not the ISO's fault if the merchant defaults. We also let the iso partner know that we don't mind if we get stacked as long as we are NOTIFIED ABOUT IT. You also forget one major thing as FUNDER it's OUR job to ensure the merchant has a proper login and funding call informing and educating them about LOC SCAMS, PSF'S, TERM LOAN CARROTS. OTHER FUNDINGS, IF THEY RECIEVED ANOTHER DISCLOSURE OR CONTRACT, HOW MANY PEOPLE THEY ARE IN CONTACT WITH. If you as a funder aren't doing the legwork to ensure your money is safe. Do not blame the broker! They are simply a BROKER; their job is to throw mud to the wall and hope it sticks. YOUR JOB is to pick and choose which files you want. don't blame the broker for your mistake. And if the merchant didn't notify you of a stack, either upgrade your line of questioning or change industries.

Well, while I don't really like how Sharkweek expresses himself in the negative tones (I can't judge his personality based on an anonymous screenname, he might be just trolling the forum, but her certainly puts himself out there as a huge jerk), in this instance he has a very important point. My experience with Versa has been positive. However, when any company ("ISO") signs an agreement under your company name, then your company is coming in as a team (or maybe a community?). You're giving your email address to someone, that means that you're taking responsibility for business he does under your brand. "I fired him" is an apology - a reason why they should continue working with you, but it's not an excuse why they don't have to follow the guidelines that your company signed with the funder. If the funder can claim that there was a breach of contract under your firm, they don't have to pay you (although it's probably best to pay after the deal is PIF since you showed trustworthiness by firing the offending employee). If there's no breach of contract, they must honor the terms and pay you. Either way, everyone was being way too defensive here, we can just be professional and put blame where blame is due, and take responsibility for hiring a greedy broker. Another point to think about. If the "house" took the commission on the 2nd one, it's a bit of a chutzpah to demand on both right away. One of the two shouldn't have happened, everyone agrees to that, so it's now just a question of how to manage the fall-out. (Personally, makes sense to wait until the deal it close to PIF to pay this commissions either way, even if there's nothing in the contract about it.) I know that when I cobroker a deal, I always indemnify myself from unauthorized PSFs/lies after-the-fact. As far as the funder is concerened, it's my deal, I need to also stand behind the entire deal, not just the fact that I made the sub.

Saying its a lie, then admitting its true and you fired the employee. To the isos responding too, you've never syndicated, you suck as humans, if you think this guy should be paid. F versa f adventure funding

F outta here defending him. Sticking your neck into a situation where you wouldnt pay the iso either. Fusion can pay him once its pif. If not he violated their iso funder agreement and can take a hike. Versa, you have a processor likely. You knew it was being double funded. F outta here too. Im this situation the funder got violated. And anyone would hold comm until its PIF. Versa you essentially committed fraud on a funder, to close a deal, the wrong way. You deserve 0% commission. The employee got fired? Yea right fire the manager overseeing this, the admin, provide proof, etc. You're full of ****.

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A few simple questions 1) Who are you? 2) Contact Information 3)Sponsoring Bank -

Would the client take 1m / 20 weeks / 1.20 if paid off within 90 days EPD? I see you have offers for 10-12 months but why hasnt client taken anything? If so I have a funder. No personal guaranteed needed, and it can fund same day as contract request.

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Thats all due to the muscle spasms from vigorously mashing the f5 key on every thread Alex Peterson ISO Relationship Manager, THORO CORP E: [email protected] C: 305-502-9414

Yeah, sorry man but you owe the commission if the merchant is performing. You can take them off of your platform but dodging commission is a really bad look for Fusion.

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